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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
POWER
The French front-month baseload power contract has widened its discount to the German equivalent to its highest since 2 May as France has been weighed down by limited demand for electric cooling and above-normal nuclear availability. The TTF June contract has also flipped into negative territory adding further downward pressure.
- France Base Pwr M1 down 8.18% at €37.50/MWh.
- Germany Base Pwr M1 down 0.82% at €65.18/MWh.
- Nordic Base Pwr M1 down 6.89% at €32.59/MWh.
- TTF Gas M1 down 0.20% at €29.61/MWh.
- Rotterdam Coal M1 up 1.2% at $108/t.
- EUA DEC 24 down 1.08% at €69.46/t CO2e.
- The French M1 discount to German M1 is at -€27.68/MWh at the time of writing.
- The German M1 has been broadly stable on the day amid high renewables output and mild weather. Declines in European carbon allowances, muted demand have also placed downward pressure.
- Luxembourg-based glass and metal producer Ardagh Group has entered into a long-term solar PPA with German firm Sunnic Lighthouse, Ardagh said.
- Nordic hydro stocks over 6-12 May (week 19) continued their climb from the previous week to increase the fastest for any week so far this year, with reservoir levels rising in all Nordic countries.
- Average net Norwegian-UK power flows have reached a yearly high so far in May, climbing by around 70% on the month as hydro and onshore wind output in Norway has remained strong, according to data from Entso-E.
- Finnish nuclear plant operator Teollisuuden Voima Oyj (TVO) has extended the outage at its 1.6GW Olkiluoto 3 (OL3) nuclear power plant to 16 May, latest Remit data show.
- The Italian Ministry of Environment and Energy Security (MASE) has approved the 600MW Elmed interconnector between Italy-Tunisa, according to MASE.
- Italy’s Edison has signed a solar PV PPA with Chiron Energy for the duration of ten years, Edison said.
- French telecommunications firm Orange has signed a 15-year PPA for power delivered from developer ZE Energy’s 77MW solar power plant in France, according to Orange.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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